Key Takeaways:
- MoveZ app will launch a two-token system, featuring MOVEZ and BURNZ.
- A survey revealed most of the participants would work out given monetary incentive.
- Move-to-earn gains traction and users.
YEREVAN (CoinChapter.com) – The idea of turning workouts into digital asset rewards is not new, with platforms like STEPN and SweatCoin getting attention. MoveZ crypto or coin is about to jump on the move-to-earn (M2E) bandwagon and launch its coins. However, the project promises monetary rewards for various activities, such as running, surfing, lifting, and cycling.
What is MoveZ crypto?
In detail, the MoveZ coin official website claims that the app will implement a dual-token system. As a result, users will be able to utilize their MOVEZ governance token for staking, voting access, providing liquidity, etc.
Meanwhile, the BURNZ token will be used for buying and trading NFTs on the app as rewards for physical activity and event access.
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According to the project’s litepaper, move-to-earn aims to “revolutionize the way we think about fitness.” Also, the app will provide immediate rewards and “unlock an array of attractive opportunities for participants.”
Move-to-earn (M2E) is gaining traction
According to a recent survey by the American fitness website FitRated, 81% of 1000 participants admitted they would exercise more if they had a monetary incentive.
81% of people would be motivated to stay fit by earning cryptocurrency for exercising. […] Over 60% of people would exercise 5 days a week for a year to earn 1 BTC.
concluded the survey.
Moreover, the respondents were more interested in Bitcoin (BTC) rewards than any other cryptocurrency. They were ready to commit to various types of physical activity, with walking at the forefront.
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Four out of ten survey participants claimed that they would cancel their gym memberships for a Metaverse equivalent. The perceived benefits included accessibility, community diversity, and frequent interactions.
However, as the idea of M2E is still young, it is too soon to judge its long-term implications. A study by the Nation Bureau of Economic Research argued that monetary incentive is not strong enough to change physical activity patterns.
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MoveZ claims to make exercising more accessible to people. However, it might not be the accessibility issue that stands in the way of a workout for an average person. Instead, the motivation behind systematic physical activity could be a more pressing issue.
Thus, earning BURNZ and MOVEZ tokens might do the trick. However, potential crypto-athletes should be aware of the risks and do their own research before considering an investment.
